- The lower quartile sales price in brisbane is $470,000, according top CoreLogic
- Weekly asking house prices are just over $900,000, according to SQM Research
- First home buyers are eligible for a stamp duty concession for houses valued at below $500,000
While Brisbane has experienced strong price growth in recent years – even before the pandemic – there are still many affordable houses in the Queensland capital.
Data from CoreLogic and Canstar has found that the lower quartile sales price in Brisbane is $470,000 – well below the $850,000 and $665,000 in Sydney and Melbourne respectively.
Brisbane is also witnessing a booming luxury housing market.
In terms of asking house prices, SQM Research data shows for the Greater Brisbane area this is hovering about $900,000, a $300,000 rise from the end of 2018.
Greater Brisbane
[Select part of the chart to zoom in on various years, and ‘reset zoom’ button to return]
What are the cheapest suburbs in Brisbane?
- Bundamba – $335,000
- Woodbridge – $335,000
- Goodna – $350,000
- East Ipswich – $355,000
- Clayfield (U) – $400,000
- Inala – $415,000
- Annerley (U) – $420,000
- Caboolture – $435,000
- Edens Landing – $445,000
- Redcliffe (U) – $455,000
Bundamba
Bundumba, located in Ipswich, offers the best affordability in the Greater Brisbane area, coupled with a strong local economy. Bundamba remains one of the cheapest Ipswich suburbs despite strong growth in the past year. Rental vacancies are close to zero, and in terms of accessibility it has its own train station.
Woodbridge
Located 24 kilometres south of Brisbane, Woodbridge is in the City of Logan and enjoys a median house price of $335,000. It is located on the commuter train line and has access to both the Gateway and Pacific Motorways. It is near major green space and facilities in Logan Central. Being part of Logan City, there are many employment nodes nearby, and benefits from being located between the Gold coast and Brisbane.
Goodna
Located on the eastern fringe of the City of Ipswich and 20 kilometres from the Brisbane CBD, Goodna is home to many larger Queenslander homes with an attractive median price of $350,000. It is located on the train line and Ipswich Motorway, and near the Logan Motorway. The suburb is near the Springfield master-planned community, which hosts a range of commercial and retail precincts. Additionally, there is a university campus and major private hospital nearby.
East Ipswich
East Ipswich is an older suburb full of Queenslander style homes on larger blocks of land. It is near the Ipswich CBD employment and amenity hubs. The suburb is also near the Ipswich Hospital an Amberley RAAF base.
Nathan Street, East Ipswich
A three-bedroom, one-bathroom is currently listed for sale on Nathan Street, East Ipswich, The house, which sits on a 809 sqm block, is currently for $229,000.
The listing noted the property is a post-war home that has been affected by floods. It clearly needs some renovations, but is a large family home.
Clayfield (U)
Located in one of Brisbane’s most prestigious near-city suburbs, Clayfield has median house prices well north of $1.5 million. However, for about a quarter of that amount, units can be found.
This makes Clayfield’s unit market popular with more consistent unit sales than house sales. Clayfield is a well-connected suburb, with access to several train stations, while the Inner City Bypass and Airport Link are nearby.
Inala
Ryder Research Resources’ Terry Ryder argues that Inala is arguably the most stigmatised Greater Brisbane suburb, saying it is marketed as “decidedly downmarket with social problems.”
“But in real estate, things change. Inala is being targeted for its affordability, location and amenities,” he added.
Inala is 17 kilometres from the Brisbane CBD via the Ipswich Motorway or Centenary Motorway, with major shopping centres, schools and community services nearby. There are also nearby employment nodes.
Annerley (Units)
Although Brisbane was a rising market before the Olympics announcement and the pandemic, this takes Annerley to the next level. Historically, suburbs near Olympic host venues tend to enjoy strong price growth.
Annerley is near The Gabba, which is undergoing a $1 billion transformation. The suburb is also full of road and rail links to the CBD, near Queensland University and Princess Alexandra Hospital. While houses are well above first home buyer reach, units can be found with a median price of $420,000.
Caboolture
Located 48 kilometres north of Brisbane, Caboolture sits in the Moreton Bay Region, a strong growth area with a vibrant local economy.
Caboolture itself is a key hub, with a string of health services, sports facilities, retail, a TAFE campus, lots of colleges and schools and a rail link to the Sunshine Coast and Central Brisbane. Although demand is high and price are surging – with 28% price growth over the past year – the median house price is $435,000.
Marigold Street, Caboolture
Currently in Caboolture there is a large three-bedroom, one-bathroom family home for sale just a few minutes from the suburb’s CBD. Located on a cul-de-sac, the 646 sqm house has been listed for $399,000.
It is currently leased out at $355 per week, with the floor area being 116 sqm large.
Edens Landing
Edens Landing is located between the Gold Coast and Brisbane, and has many dwellings on cul-de-sac’s in the $400,000’s. The suburb is located on the train line and the Brisbane-Beenleigh Road which connects to the Pacific Motorway, near the Logan Motorway intersection. Edens Landing neighbours with Beenleigh and is a key commercial Logan City centre.
Redcliffe
Although formerly regarded as a downmarket suburb with a “daggy image”, the Redcliffe peninsula has undergone a transformation.
“The are has witnessed an injection of modern dwellings, café culture and waterfront amenities,” said Mr Ryder.
He added the establishment of rail links to the Brisbane CBD has enhanced the appeal of the area and the Newport canal residential suburb has raised the tone.
“Redcliffe is now sought for its bayside lifestyle and relative affordability, including affordable water view apartments.”
